10 things you did not know about the Travel Tech industry

30 March 2017 - Sonia Powar

We think technology will become ever more crucial throughout the travel industry, with online sales in the sector growing fast and expected to hit $762bn by 2019. In the UK alone, three-quarters of internet users booked a holiday digitally last year. And while many bookings are still made offline, travellers will still frequently have used digital tools to inform their purchases.

Travel Tech Fact Sources

1 – Digital travel sales are forecast to reach $818bn by 2020, says Statista
2 – 76% of UK holidaymakers booked a holiday online during 2016 according to ABTA
3 – Some 200 travel tech businesses attracted $2.5bn of funding during 2016 according to CBInsights
4 – The two largest online travel agents, Expedia ($61bn) and Priceline ($55bn), racked up $116bn of sales between them during 2016, says Travel Weekly
5 – TripAdvisor user numbers have now reached 390 million
6 – 59% of accommodation owners have plans to invest in online reputation management
7 – 58% of travel industry businesses will raise their spend on technology in 2017 according to Travel Technology Europe
8 – 73% of UK business travellers are under the age of 45 says the GTMC
9 – 52% of travellers use apps in destinations, to find things to do, places to eat and to navigate
10 – The travel tech sector now includes 15 “unicorns” – start-ups valued at $1bn or more – according to Skift

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